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Rent To Own Condominiums...

EffinHard

TRIBE Member
Does anyone have information about these. They are springing up everywhere in Toronto, I;ve seen listings at $1300 a month?

Anyone have any idea about the terms? Interest Rate? Length of Term? Condo Fee's?

Just a general inquiry cause Im back in Kingston and dont have access to any of the advertising I saw.
 
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Humanjava

TRIBE Member
It's called a crashing market so they get ppl in at an extreme cost to try and recover development costs.
 

bitchass

TRIBE Member
there is a new CMHC program that allows you to buy with 0% down now - you pay 3.5% insurance on the amount borrowed. I don't know about rent to own but it would probably be cheaper to just buy right off the bat, even with the 3.5% charge.
 

AshG

Member
the one advantage of rent-to-own is the considerable body of rights you posess as a renter.
not to be overlooked.
 
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